Re: 1977 Mercruiser 470 Problems - Please Help
Alright, so let's address some of the issues you're having before you try to sell the boat.
The trim...
Maybe needs a new pump motor.
Either:
1) Tear down the pump motor, clean it, see if it is frozen, needs new brushes, is completely rusted out, etc.
2) Take a gamble and buy a used pump/motor on ebay (they show up all the time, I picked up one for around $80).
Also, you need to address the frayed wires on the trim limit switch on the drive. If those wires are completely jacked up, the switch on the dash won't work. Possibly need to replace the trim limit and trim sender switches on the drive.
Since jumping power to the pump motor fails, I'm thinking it is possibly frozen due to rust (mine was).
Steering...
It's not unusual for the steering bar to be froze up (mine was). Now that you've freed it, make sure to put some grease on the bar and move it in and out of the tube several times to get everything coated well with grease to prevent it from happening again.
Water pump (bilge pump)...
Well, those are fairly cheap and if the boat has been sitting long, not surprising it no longer works. Replace it.
Taking on water...
That could be caused by several things. First thing I would check is the bellows in the drive, they are likely cracked. Check all of your hoses, especially the sea water hose from the drive (comes from the transom assembly behind the motor).
Possible starter issues (loud, slow starts)..
Starter needs rebuilding, or a new one. It MUST be marine rated. There is an "aftermarket" that is popular with the 470s, although I don't know the part number off the top of my head.
I get the impression that you are looking for a boat that you can get on the water sooner, rather than later, and judging by the amount of work needed to get the motor/trim working, needed interior work, etc, you might be happier finding another boat closer to water-ready. Without seeing the interior, it's hard to tell how big of a project boat you've got yourself there.
As far as what it's worth... it's worth whatever somebody is willing to pay on any given day.
I paid more for mine and ended up doing a complete restore on it, costing WAY more than the boat will ever be worth.
It all just depends on how much work you are willing to put into the boat, how soon you want to be on the water, and how much money you're willing to sink. One thing always leads to another with boats...